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Tag: Inflation

Inflation
EconomyGeneral News

Inflation to increase to 21.8% in August 2024 – ReportInflation is expected to surge to 21.8% in August 2024, IC Securities has predicted. According to the investment firm, this is due to unfavourable base effect. However, month-on-month inflation will ease. “Although the sharper-than-expected deceleration in the July 2024 annual inflation significantly eases our concerns, we remain convinced that the August print will witness an upturn, stressing the need for caution in lower inflation and interest rate outlooks”, it disclosed in its analysis of the outlook of inflation. It pointed out that in August 2023 it observed an unexpected contraction in the Consumer Price Index (CPI) levels by 0.4 points, which resulted in a 300 basis points decline in annual inflation. As, such, given the unconventional nature of a CPI contraction in August, it expects an increase in the CPI level for August 2024, albeit a modest rise capped by food harvest. Tricks For More Cloud Storage Below Running low on phone storage? Expand Your Cloud Storage Now Cloud Storage Deals | Ads “We opine that even a slight increase in the August 2024 CPI will nudge annual inflation. Additionally, we foresee upside risk from the spillover effect of the utility tariff hike in July 2024 although the relatively stable Cedi could partly numb the impact. Consequently, we forecast annual inflation at 21.8% (+90bps) while the m/m [month-on-month] rate declines to 0.5% in August 2024”. Ghana’s headline inflation surprised to the downside with a faster-than-expected decline of 190 basis points to 20.9% in July 2024. It represented the fourth consecutive month of decline in annual inflation and marked the longest streak of disinflation since second-half year of 2023. Policy rate cut in offing Meanwhile, IC Securities said the wider real interest rate opens the door for rate cuts but the abundance of caution and Treasury’s borrowing needs will limit the dovish sentiments.

Inflation is expected to surge to 21.8% in August 2024, IC Securities…

Kofi Ahovi
Kofi Ahovi
General News

Shift focus to transportation amid inflation drop – Govt Statistician to policymakers

Government Statistician, Professor Samuel Kobina Annim has cautioned policymakers against complacency, despite…

Kofi Ahovi
Kofi Ahovi
Banking and FinanceEconomyGeneral News

Monetary policy rate: BoG’s explanation for mopping up excess liquidity not convincing -Togbe Afede XIV

Togbe Afede XIV, the Agbogbomefia of the Asogli State, has criticised the…

Kofi Ahovi
Kofi Ahovi
health budget, Ghana
EconomyGeneral News

Fitch Solutions projects 19.0% average inflation for Ghana in 2024

Fitch Solutions is projecting an average inflation of 19.0% for Ghana in…

Kofi Ahovi
Kofi Ahovi
Inflation
BusinessEconomyGeneral News

March 2024 inflation increases sharply to 25.8%

Inflation for March 2024 increased sharply to 25.8% from 23.2% recorded in…

Kofi Ahovi
Kofi Ahovi
BoG announces impending closure of Non-Bank Financial Institutions facing severe liquidity challenges
Banking and FinanceGeneral News

April 9, 2024

BoG’s traditional monetary tools ineffective against inflation, research says A recent research…

Kofi Ahovi
Kofi Ahovi
Banking and FinanceBusinessEconomy

BoG maintains policy rate at 29%

The Bank of Ghana (BoG) has maintained its Monetary Policy Rate (base…

Kofi Ahovi
Kofi Ahovi
Inflation
EconomyGeneral News

Inflation to decline between 13-17% by December 2024 – BoG

The Bank of Ghana is forecasting a further decline in headline inflation…

Kofi Ahovi
Kofi Ahovi
GUTA, prices of goods
EconomyGeneral News

Ghana’s inflation rate almost 3 times that of Ivory Coast, Togo, and Burkina Faso combined

Ghana continues to grapple with price hikes as the year-on-year inflation rate…

Kofi Ahovi
Kofi Ahovi
Inflation
BusinessEconomyGeneral News

Inflation hits 23.5% as it resumes upward trajectory

Inflation went up marginally in January 2024 to 23.5% as it resumed…

Kofi Ahovi
Kofi Ahovi